Kelly Financial: Saturday, November 22, 2025

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Episode Transcript

Speaker 1 (00:12):
This is coming to us.

Speaker 2 (00:20):
Ladies and gentlemen. Welcome to Safe Money Strategies on WRKO.
I'm William Kelly and it's an honor to carry on
a family legacy rooted in real world values and practical advice.
Kelly Financial was founded in two thousand and three by
my parents, my late father Bill Kelly and my mother
Kelly Kelly in Braintree and Burlington, Massachusetts. Just two years later,

(00:40):
Dad launched Safe Money Strategies on WRKO as a no
nonsense callin radio show focused on common sense planning and
protecting wealth. Over the past two decades, Dad became a
pillar in New England finance, an engineer turned entrepreneur, author
and philanthropist who believed in giving back and walking the talk.
Since two thousand and five, if our shows were made
a Saturday morning staple offering insight and empowerment. Here at

(01:05):
Kelly Financial, we help steward over seven hundred million dollars
across our affiliated business, including more than five hundred million
dollars managed by our sec registered investment advisory, where fiduciary
care and our family first philosophy guides us on safe
money strategies. You'll hear candid conversations with the team, my
mother Kelly, myself, advisors Charlie Gable, Mike Ducett, Greg Workman,

(01:29):
Greg Murray, my sister Mary Madeline, and Tom Schlager. We
live by two rules, never quit and carry on, and
we're here to help you do the same when it
comes to your money. Stick around, take notes and join
the conversation. To learn more, or get our free guides
or schedule a consultation, visit Kellyfinancial dot org or call
us at eighty eight eight eight hundred one eight eight one.

(01:51):
This is Safe Money Strategies. Next up Forever Young with
Kelly Kelly and myself William Kelly Junior.

Speaker 3 (02:02):
Safe Money Strategies with William Kelly and Kelly Kelly eight
hundred eighteen eighty one.

Speaker 4 (02:14):
Each week on Safe Money Strategies, we take a moment
to step back from the headlines and have a real conversation,
the kind you might have around the kitchen table. This
is the part of the show we call Forever Young.
It's where I sit down with my son, William Kelly Junior,
and we talk about life, what's going on in the world,
and our family and what really matters most when you're

(02:37):
planning for the future. Sometimes it's light, sometimes as thoughtful,
but it's always real.

Speaker 5 (02:43):
Good morning, William. How are you mom?

Speaker 1 (02:46):
I'm fine.

Speaker 5 (02:47):
How are you I'm doing great.

Speaker 2 (02:48):
That's awesome to hear. And what's also awesome to hear
is my book is it's flying off the shelf, ladies.

Speaker 5 (02:56):
It sure is, William.

Speaker 2 (02:58):
I will say those who have you who purchased it
on Amazon, first off, I want to say thank you
very much. You'll receive it a lot quicker if you're
in a rush to get the book on Amazon.

Speaker 1 (03:08):
But that's a side note.

Speaker 2 (03:09):
Don't be afraid to please leave a review, and that's
a great way to get some feedback. It also kind
of helps me see how you guys rate my book,
and it means a lot to me. And furthermore, if
you're awaiting a copy, our supplies are coming in. It
takes a bit longer to get author copies than it
does for you to get direct copies shipped to you
from Amazon for some reason. So those copies will be

(03:32):
coming in I'd say within the next coming weeks and
maybe even sooner than that. And I'm looking forward to
our event in December, early December, December sixth if I'm correct, right,
And what's the second on Saturday? I'm sorry, it's.

Speaker 4 (03:45):
On Saturday and it's from eleven until one pm and
we'll have both offices open, that's right, Braintree and Burlington,
and we will be accepting unwrapped toys for our toy
drive and you will be in Burlington. I will be
in Burlington as well, and we'll be greeting people. It's

(04:07):
just drop by and we'll have like a gift bag
for you and you'll be signing books for those who
want a book.

Speaker 1 (04:14):
And that's right.

Speaker 2 (04:15):
If you come and drop off a toy, o gladly
sign a book for you and we'll hand you one.

Speaker 4 (04:19):
And yes, yes, And our team will also be at
our brain Tree office if that office is more convenient
for you, and we'll have some of Bill William's books
there as well.

Speaker 2 (04:31):
Oh yeah, absolutely, So come give to people who need toys,
especially kids who are a little unfortunate and can't get it,
so it would mean the world to them. Yes, and
it's Toys for Tots right.

Speaker 4 (04:43):
No, it's actually Interfaith Social Services. Okay, it's the organization
that we have spent some time in their pantry.

Speaker 2 (04:53):
I remember, yeah, I know, they're fantastic people. Oh my gosh.
You know, those folks are there on top of their game.
They know to run an organization. And I remember we
went to the food pantry. Yes, and I mean they
have as system, so we.

Speaker 5 (05:06):
Worked to like four hours.

Speaker 2 (05:08):
Yeah, it was a decent chunk.

Speaker 5 (05:09):
Yes, it was great.

Speaker 2 (05:10):
I think we're going to do it again because we
really honestly, it's very satisfying. They do a fantastic I
think they help a lot of people. They do, They
truly do. I mean you're just serving car after car,
person after person.

Speaker 5 (05:23):
If they don't have a car, you were delivering it outside.

Speaker 2 (05:26):
Right, Well, you do it outside and then you also
come and you refill the car. So you do it
in shopping carts. You fill up the cart and then
you bring it around the circle. It's kind of like
a conveyor belt system. And you exit the building, you
go over to the car, you fill the car, you
pack it up for them. So you tell them stay
in the car, don't leave the car, stay in there

(05:47):
because sometimes they'll get out, they'll feel bad and they
want to help out. But first off, we want to
do the service, and then second off, it also actually
saves more time if we just do everything and you
go so, you know, because there are a lot of
you know, mouths, We get a feet, a lot of
food we got to give away, so it's you know,
it's just bang bang bang bang bang. So but anyways,
what I'm trying to say, they're amazing people.

Speaker 5 (06:07):
And yes, a great organization.

Speaker 2 (06:09):
Yes, so your your toys are going to a good place.

Speaker 5 (06:12):
True, true, so exciting. So what else? What else? We've
got Thanksgiving coming up?

Speaker 2 (06:18):
That's right, that's gonna be a big deal. Yes, we're
gonna have some turkey, No Kooner's this time. Family, yes, yes,
and it'll just be.

Speaker 5 (06:28):
A Canadian family, that's.

Speaker 2 (06:30):
Right, the small family unit. John might be joining us,
we'll see, yes, good, Yes, so whatever meal is going
to be cooked, it is going to be delicious of
John's joining.

Speaker 5 (06:39):
Us, Yes, so, and he'll meet Mary. Madlin's a boyfriend.

Speaker 2 (06:43):
Oh, Timmy, Timmy's coming up.

Speaker 5 (06:45):
You are hilarious.

Speaker 2 (06:46):
Timmy's not his real name. Timmy is what we call
him on the show to protect his identity because I
don't want anything bad happening to Timmy. I don't want
to do him. He's a great guy.

Speaker 5 (06:56):
Oh you're funny you two team up.

Speaker 2 (06:59):
Oh yeah, absolutely, And I'm very I'm grateful for Timmy
because you know, he has the intellectual capacity to kind of,
you know, work with me and to get you know,
to how to dig very madeline a little bit. So
I'm very grateful for you know, him in our lives.
He's also a fantastic guy. He's just a down earth been,
very humble, very sure of himself.

Speaker 6 (07:20):
He is.

Speaker 2 (07:20):
Oh yeah, no, he's he's a great guy. And I
think we're gonna have a great Thanksgiving together. I'm excited
for that, agreed.

Speaker 5 (07:30):
I know we'll have good food.

Speaker 2 (07:31):
Oh yeah, we will.

Speaker 5 (07:32):
And there'll be plenty of dogs here.

Speaker 2 (07:34):
Oh jeez, I forgot about that. That's gonna be a
lot of fun.

Speaker 4 (07:38):
We'll have Georgia, of course, you're the queen, Mallie.

Speaker 2 (07:41):
That's right.

Speaker 5 (07:42):
We'll be calming and John's dog, Mamie.

Speaker 2 (07:47):
Oh boy, you don't know if Timmy's bringing his dogs. Yes, yeah,
So those those puppies, I'll say this, they're great dogs.
But there's this one who is a little large and
he's still a puppy, and so he's a little wild.
He doesn't have a bad bone in his body, don't
get me wrong. He's a great dog, but he may

(08:08):
you know, wag that tail a little too hard, break something,
chip something. You know, he's running around.

Speaker 1 (08:13):
He's just he's a big dog.

Speaker 2 (08:15):
He's kind of like a Doberman mix. You know, he
needs to go outside and run. He pounds, yeah, eighty
five pounds of flailing limbs, as Timmy puts it. And
now the other dog, she's kind of a like a
street month. She's a rescue. It's just the sweetest angel.
And Planet Earth reminds me of Dixie a lot our
our our old car and terrier who passed away. And

(08:37):
she just she just is such a love bug, super grateful,
loves to play. Just not as wild as the first dog.
So you know, hopefully the first one will maybe be
out his mom's farm or something like that.

Speaker 5 (08:50):
But he would be the one to take the turkey
off the table.

Speaker 2 (08:52):
He would he would eat the whole thing. Yes, and
like I could so see that in under fifteen minutes,
maybe even five, he'd eat the whole turkey. I completely
believe it. Bones maybe even less couple bones. True. Yeah,
he'll jump on the counter, he'll get it. So that's
our Thanksgiving plan. That dog sadly will be banned. No

(09:13):
big dog, No Benji, It's going to be sad. So
we'll see anyways, sort thing. We hope everybody has a
happy Thanksgiving.

Speaker 4 (09:20):
Absolutely, and do keep us on your dial. We've got
a lot of great content coming your way. Mike do
Set and Greg Workman will break down whether today's market
is truly overheated and what smart positioning looks like right now. Mary,
Madeline Kelly and Greg Murray will share the latest updates
to for A one K catch up contributions and what

(09:43):
these changes could mean for your retirement strategy. I will
be back with William and we will talk about how
real life planning gives families clarity, confidence and a path forward.
And of course we'll close the hour with some whip
and whizdo them from the late Bill Kelly. His words
continue to inspire and guide us. That's a wrap for forever.

(10:06):
Young Thank you for listening, and William, thank you for
joining me.

Speaker 5 (10:10):
We'll be back with more great content. I love you, honey,
I love you too.

Speaker 7 (10:15):
Oh ye.

Speaker 3 (10:22):
Kelly Financial Services eight eight hundred, eighteen eighty one.

Speaker 1 (10:27):
I believe that this nation should commit it so achieving the.

Speaker 8 (10:30):
Goal of landing a man on the Moon and returning
him safely to the Earth.

Speaker 9 (10:36):
Six five four three two one zero All engine run.

Speaker 2 (10:44):
Looked d look that follow up?

Speaker 9 (10:47):
Remember those Apollo Moon missions? One of America's greatest adventures
and achievements too. The nation set a goal and then
realized it. What are your goals at Kelly Financial Services
is We've got the right team and technology to help
launch your retirement planning. Let us help you set and
reach your goals for your greatest adventure and achievement. Call

(11:11):
us at eight eight eight eight hundred and eighteen eighty
one or visit us at Kellyfinancial dot org.

Speaker 1 (11:17):
Where do you.

Speaker 9 (11:18):
Want to land with a tanguality behavior the.

Speaker 5 (11:21):
Ankle I landed.

Speaker 9 (11:22):
We are Kelly Financial Services. Come retire with us.

Speaker 10 (11:27):
Okay, my friends, we all talk about planning for retirement,
but let's be honest. For most people, it's not the
numbers that keep you up at night.

Speaker 1 (11:36):
It's the fear.

Speaker 10 (11:37):
Fear of the market, fear of outliving your savings, fear
of the unknown. And that's why Kelly Kelly, the CEO
of Kelly Financial Services, wrote the book Retire your Fear,
Plan your future. It is not your typical financial guide
full of industry jargon. It's about the reality. So many
retirees face life changes like wadohood, longevity, even planning for

(12:02):
your own future and how to navigate them with clarity
and confidence. For more than two decades, Kelly Financial has
helped you England families prepare for retirement through education and
sound financial planning. Now Kelly has gathered that insight into
one easy to read book. So take the next step

(12:22):
toward understanding your options. Call Kelly Financial now eight eight
eight eight hundred eighteen eighty one get your free copy
of Retire Your Fear, Plan Your Future eight eight eight
eight hundred eighteen eighty one, or emailed Kelly at Kelly
Financial dot org.

Speaker 8 (12:41):
Welcome back to Safe Money Strategies, the show where we
help you build confidence in.

Speaker 1 (12:45):
Your financial future.

Speaker 8 (12:47):
I'm Mike, you said, chief operating officer at Kelly Financial,
and I'm.

Speaker 1 (12:51):
Greg Workman, investment advisor at Kelly Financial Services. Mike. This
week we are diving into a question that is on
a lot of investors' minds right now. Is the market overheated?

Speaker 8 (13:04):
It's a great question, Greg, and honestly one that we're
hearing more and more we've had an incredible run. The
s and P five hundred has pushed to levels that
are making a lot of folks a little uneasy. Some
analysts say valuations is stretched, others think the growth story
still has legs.

Speaker 11 (13:20):
Right.

Speaker 1 (13:20):
It's one of those rare times when both bulls and
the bears can make a pretty convincing case. The key
for our listeners is understanding where the risk is, what's
driving today's market, and how to think about positioning your assets,
especially for those approaching or already in retirement. So let's

(13:43):
start with the valuations.

Speaker 8 (13:44):
Historically, we look at the market's price to earnings ratios
to get a sense of whether we're in normal territory
or in the price for perfection zone.

Speaker 1 (13:52):
Exactly, and right now, a lot of those models, like
the cyclically adjusted price to earnings ratio or CAPE ratio,
they're flashing red or at least bright yellow. One mean
reversion model shows the SNP five hundred trading about seventy
three percent above its long term trend, which is roughly

(14:15):
two standard deviations above normal range. That's pretty significant.

Speaker 8 (14:20):
It doesn't mean the market's about to fall off a
cliff tomorrow, but it tells us that prices are running
ahead of fundamentals. In other words, investors are paying a
premium today based on some very optimistic expectations above future earnings.

Speaker 1 (14:33):
And when you buy stocks at high valuations, you're basically
assuming that everything has to go right. The economy stays strong,
inflation behaves, interest rates come down, earnings they keep growing.
There's not much room for error built into prices right now.
That's the risk.

Speaker 8 (14:51):
High valuations tend to mean lower future returns. Not necessarily
in imminent crash, but historically markets that are this stretched
have a time compounding.

Speaker 1 (15:01):
From here, the other dynamic here, Mike, is how concentrated
this market has become. The so called Magnificent seven, the
big tech in AI names, while they now make up
roughly thirty seven percent of the S and p's total weight. Yeah,
that's staggering. Think about it.

Speaker 8 (15:17):
Seven companies making up over a third of a five
hundred stock index. It means that the SNP's performance is
really being driven by very small number of stocks.

Speaker 1 (15:28):
And the issue there is diversification risk. If one or
two of those names stumble, say Inerningsmiths, a new regulation,
or just a rotation out of technology, the whole Index
can feel it. Meanwhile, many of the other four hundred
and ninety three companies haven't really been contributing much to
this year's rally. That's right.

Speaker 8 (15:49):
The headline numbers can make it look like the market's
strong across the board, but when you look under the hood,
participation has been pretty narrow.

Speaker 1 (15:57):
It's kind of like a football team where only a
a few star players are carrying the ball every single game.
It works as long as those players stay healthy and
they keep scoring, but if they get injured or tired,
the whole team's performance suffers.

Speaker 8 (16:12):
It makes me think of the Boston Celtics last season.
Everything was looking great and they were well on their
way to winning another title until Jason Tatum went down
with an injury and those expectations changed overnight. For investors,
that means if you're simply buying the Index, you might
be taken on more concentrated risk than you realize now.

Speaker 1 (16:31):
To be fair, part of what's keeping valuations high is
the belief that technology and AI will drive a new
wave of productivity and earnings growth. Companies are spending heavily
billions in capital expenditures on data centers, chips, infrastructure, and
investors are betting that those investments will pay off big.

Speaker 8 (16:53):
It's the engine behind a lot of today's optimism. Tech
companies now account for roughly thirty percent of SMP five
hundred earnings growth, compared to just ten percent only two
decades ago.

Speaker 1 (17:05):
That's a huge shift, it is, but it also comes
with risk. Those massive capital investments assume that the growth
does arrive, that AI actually delivers on its promises, that
these technologies scale efficiently, and that costs don't continue to
spiral out of control. And that's not guaranteed.

Speaker 8 (17:26):
If the growth slows or earnings don't meet expectations, Suddenly
those lofty valuations look very expensive. The market's priced for perfection,
but execution risk is high.

Speaker 1 (17:38):
That's where investors can get caught off guard when the
story shifts from incredible growth ahead to we might have
overpaid for that growth. So we've got a few ingredients here.

Speaker 8 (17:50):
High valuations, narrow leadership, and huge expectations around tech and AI.
That combination can make the market more fragile than it looks.

Speaker 11 (17:59):
Right.

Speaker 1 (18:00):
It's a double risk scenario. You've got limited margin for
error and a lot of dependence on a handful of names.
If any part of that story weakens, whether it's earnings,
regulation or investor sentiment, the premium that's baked in can
evaporate quickly.

Speaker 8 (18:18):
Which is why from a safe money perspective, this is
a time for thoughtful positioning, not panic, not overreaction, but awareness.
You can't control the market, but you can control how
exposed you are to it.

Speaker 1 (18:30):
Absolutely, It's about being selective, balancing risk assets with safer
income producing ones, diversifying across sectors, and maybe dialing back
exposure to areas that have run too far, too fast.

Speaker 8 (18:46):
In the second half of today's show, we'll look at
the Bull and Baar cases, what could drive the market
higher from here, what could kno get off balance, and
some smart strategies to position yourself either way.

Speaker 1 (18:59):
Plus we'll talk talk about some practical steps retirees and
pre retirees can take right now to help protect what
they've built, and how our Safe Money Strategies workbook can
help you evaluate your exposure stick around. We'll be right
back after the short break.

Speaker 3 (19:19):
Kelly Financial Services eight eight hundred, eighteen eighty one.

Speaker 9 (19:25):
I'm John Boudris, and welcome to a new edition of
Kelly Financials. What would Bill say the wit and wisdom
of the late Bill Kelly. Today we'll address fact from fiction.

Speaker 12 (19:37):
You can always make money if you haven't if you
lose it all, It's very difficult to do that. So
you have to have a plan. If the market goes
up quite a bit or down quite a bit, you
have to be ready. And how do you sort fact
from fiction?

Speaker 9 (19:50):
Download Kelly Financial's consumer guide, simply called the Value of.

Speaker 1 (19:54):
An Objective Opinion.

Speaker 9 (19:56):
With so much at steak with your retirement future, I
don't just want any financial advice, but objective financial advice,
and as a fiduciary, Kelly Financial puts your interests above
all else. Go to Kellyfinancial dot org or call eight
eight eight eight hundred eighteen eighty one to get the guide.

Speaker 1 (20:17):
Ladies and gentlemen sort fact from fiction.

Speaker 9 (20:19):
We are Kelly Financial Services. Come retire with us.

Speaker 4 (20:24):
I'm Kelly Kelly from Kelly Financial. Is your financial advisor
a fiduciary? In other words, are they legally required to
act in your best interest? My complimentary book, Retire Your Fear,
Plan Your Future explains what a fiduciary is and will
help you understand if an advisor is really putting you
first for the book call eight eight eight eight hundred

(20:46):
eighteen eighty one or email Kelly at Kelly Financial dot org.

Speaker 5 (20:51):
We're Kelly Financial. Come retire with us.

Speaker 3 (20:55):
The Money Wrap with Kelly Financial Advisors, Greg Murray and
Mary Mattline Kenny.

Speaker 11 (21:01):
Hello.

Speaker 6 (21:02):
This is Greg Murray, Senior vice president and Chief Compliance
Officer at Kelly Financial Services. Joining me today is Mary
Madeline Kelly, one of our wealth advisors.

Speaker 1 (21:10):
How are you doing today, Hi?

Speaker 7 (21:11):
Greg, I am doing great. Friends Giving was a success
last week. I always make my signature cornbread cast role
and it was a hit yet again. This time I
actually made two batches because it goes so fast that
people love it.

Speaker 6 (21:25):
That is awesome to hear. It's going to be a
busy Thanksgiving week for me as well. We have Diane's
family Thanksgiving with thirty eight people coming, and then we
are going to be with my family on Saturday, which
we will be hosting for the first time. And then
once we get through Thanksgiving, the race is on to
the end of the year.

Speaker 7 (21:40):
Wow, thirty eight people sounds like a lot, but I'm
sure you guys will have a great time. And the
end of the year is the time when a lot
of people start reviewing their retirement plans and contributions, which
brings us right to today's topic, the changes coming to
four oh one K catch up contributions.

Speaker 6 (21:56):
That's right, and these updates have caused a lot of confusion,
so let's break them down. Catchup contributions are extra amounts
you can put into your four oh one K once
you turn fifty. It's a great way for people nearing
retirement to boost their savings.

Speaker 7 (22:08):
Exactly, for twenty twenty four, the catchup contribution limit is
seventy five hundred dollars on top of the regular twenty
three thousand dollars limit for employees under fifty, so if
you're fifty year older, you can put away up to
thirty thousand, five hundred dollars in total.

Speaker 6 (22:25):
And the big change has been getting attention comes from
Secure Act two point zero. Originally, it's said that higher
earners and when making more than one hundred and forty
five thousand dollars a year would have to make their
catchup contributions are rough four a one K instead of
pre tax.

Speaker 7 (22:38):
For a one K, yes, meaning those contributions would no
longer be tax deductible up front. But the withdrawals and
retirement would be tax free. It's a shift from tax
now or tax later, and it really affects how people
think about saving exactly.

Speaker 6 (22:53):
That rule was supposed to take effect in twenty twenty four,
but the IRS recently announced a two year delay, so
won't kick in until twenty twenty six. That gives planned
administrators and participants a little more time to prepare.

Speaker 5 (23:05):
And that's a big deal.

Speaker 7 (23:06):
Because not every employer's plan currently offers a four oh
one K option. Some would have been scrambling to add
one this year. The delay gives everyone some breathing room.

Speaker 6 (23:15):
It also gives investors time to think strategically about how
they want to allocate those savings. There's no one size
fits all answer. For someone in a high tax bracket
now but expecting lower taxes in retirement, the pre tax
rote might still make sense while it's available, and.

Speaker 7 (23:29):
For others, especially younger boomers or Gen xers who think
tax rates will be higher in the future, the Wroth
option could be more attractive. You pay the taxes now,
let the money grow tax free, and then have flexibility
and retirement when it comes to withdrawals.

Speaker 6 (23:44):
That's the key flexibility. Having both pre tax and Wroth
Savings gives the choices when it's time to draw income.
You can manage your tax bracket more efficiently by choosing
which accounts it take from each year.

Speaker 7 (23:54):
And another change worth noting. Starting in twenty twenty five,
workers ages sixty to sixty three will get a special
super catch up contribution limit. They'll be able to contribute
up to ten thousand dollars more per year or one
hundred and fifty percent of the regular catch up limit,
whichever is greater.

Speaker 6 (24:12):
That's a great opportunity for people in that final stretch
before retirement, when their expenses may be lower, kids are
out of college, and they finally have extra income to save.

Speaker 7 (24:20):
Yes, and it really underscores the importance of reviewing your
retirement plan each year. So many people set up their
contribution percentage years ago and never look at it again.

Speaker 1 (24:30):
But laws, limits and income levels.

Speaker 6 (24:33):
Change, and the end of the year is the perfect
time to check those details, make sure you're contributing enough,
taking advantage of any employer.

Speaker 1 (24:40):
Match, and planning for these upcoming rule changes.

Speaker 7 (24:42):
And if you're self employed or running your own business,
there are similar opportunities in sep I raise or solo
for OH one case, so it's worth reviewing those as well.

Speaker 6 (24:52):
So to sum it up for our listeners, here are
the key points in the four to oh one k
catch up contributions. One, if you're a fifty year older,
you can contribute an extra seven five hundred this year. Two,
the new rule requiring higher earners to make rough catchup
contributions has been delayed until next year. Three, starting in
twenty twenty five, workers age sixty to sixty three can

(25:12):
make even larger catchup contributions.

Speaker 7 (25:14):
Perfect summary, and this is exactly the kind of planning
that can make a huge difference over time. A few
extra years of catchup contributions can add tens of thousands
of dollars and potentially thousands in future tax savings.

Speaker 6 (25:28):
And that's where we can help. At Kelly Financial, we
sit down with clients look at their entire retirement picture,
not just how much they're saving, but where they're saving
and what makes the most tax sense for their situation.

Speaker 1 (25:39):
Because at the end of the day, the.

Speaker 7 (25:40):
Goal isn't just to save money, it's to make sure
your retirement dollars go as far as possible and you
keep more of what you've earned.

Speaker 1 (25:48):
Well said, that's going to wrap things up.

Speaker 6 (25:49):
If you'd like to review your four oh one K
or understand how these catchup changes affect you, give us
a call. We'd love to help you plan ahead for
twenty twenty five and beyond.

Speaker 7 (25:58):
Absolutely well, Greg, They thank you for your time today,
and I hope you.

Speaker 5 (26:02):
Enjoy the rest of your weekend.

Speaker 3 (26:03):
To get in touch with Greg Murray or Mary, Madeline Kelly,
or any member of the Kelly Financial Team, call eight
eight eight hundred eighteen eighty one. Save Money Strategies with
William Kelly and Kelly Kelly. Call the team on eight
eight eight eight hundred, eighteen eighty.

Speaker 5 (26:24):
One and we are back.

Speaker 4 (26:30):
This is Kelly Kelly and I'm here with my son,
William Kelly Junior.

Speaker 5 (26:35):
Today we are opening the door to a.

Speaker 4 (26:38):
Message that means a great deal to me, a message
at the heart of my book. Retire your fear, Plan
your future because planning is not simply financial. Planning is emotional,
It is spiritual. It is a way of honoring your
responsibilities and giving yourself the freedom to live your life with.

Speaker 2 (26:59):
Confide Absolutely Mom, And you know I've heard you share
this message for many years now, both with our listeners
and with families who come to our firm, and the
lesson is always the same. Life can change in an instant,
and the best time to plan is before life forces
your hand.

Speaker 4 (27:16):
That is right when your father passed away, I became
a widow, a single mom, a client, and the CEO
of this firm, all on the same day.

Speaker 5 (27:28):
It was probably the hardest moment of my life.

Speaker 4 (27:32):
But because we had planned, I didn't have to rebuild
everything from scratch. The grief was enough, the financial fear
did not have to take over too. Planning allowed me
to lead with strength instead of panic. It allowed me
to be present for you and your sister, and that
is why I tell families plan for the event everyone

(27:56):
hopes never happens. You are not planning at a year.
You are planning out of love.

Speaker 2 (28:02):
And that is something you always said that faith, family,
and foresight carry you through life storms.

Speaker 4 (28:09):
They truly do, and planning is a part of that.
Foresight is what transforms uncertainty into direction. It is what
allows families to face tomorrow with gratitude instead of anxiety.

Speaker 2 (28:24):
And something I see every day in our conversations at
the office is that no two plans ever look the same.

Speaker 4 (28:30):
Exactly everyone's plan is unique because everyone's goals are unique,
but the need for a plan is universal. Whether you
are focused on income, social Security, taxes, healthcare, or simply
having enough to enjoy life. What matters most is that

(28:51):
you have outlined a roadmap. When you have a process,
instead of panic, you gain clarity. I always say planning
for this peace of mind. Once you have that solid foundation,
you are not guessing anymore.

Speaker 5 (29:06):
You are living.

Speaker 1 (29:07):
And that brings us to the next piece. How long
does your plan need to last?

Speaker 4 (29:11):
Longevity is one of the biggest forces shaping retirement today.
People fear running out of money more than they fear dying,
and it makes sense. If you are sixty five today,
you could easily live another twenty to thirty years. That
is a long time to ensure your income lasts.

Speaker 2 (29:31):
And inflation plays into that too, cost double roughly every
twenty five years.

Speaker 1 (29:36):
That is a huge factor in planning.

Speaker 4 (29:38):
It certainly is, and longevity is not a problem, is
a blessing. It simply means the plan you create needs
to match the length of your life. That is why
income planning is so critical. You want to know that
your retirement is not built on hope, is built on structure.

Speaker 2 (29:58):
You always remind listeners that uncertain andy is completely normal.
Even people who have saved well sometimes don't feel confident.

Speaker 5 (30:05):
That is so true.

Speaker 4 (30:07):
Families often walk into our offices with the same question,
do I have enough? And that is not a silly question,
is a wise one. Our advisors look at your income,
you're spending, your goals, your risk tolerance, your longevity, and
your tax strategy, and once everything is mapped out year

(30:29):
by year, that fear transforms into clarity. You feel empowered,
you feel steady, you feel prepared. That is what planning does.
It does not change your life circumstances, it changes how
you navigate them.

Speaker 2 (30:46):
Another big question we hear is whether someone should retire
early or keep working a little longer.

Speaker 4 (30:52):
And the answer is always it depends. Early retirement can
be wonderful, but healthcare costs before Medicare can be a challenge.
Working longer can grow your savings, increase social security benefits,
and give you more purpose and structure. And we are
seeing more people unretire not because they have to, but

(31:16):
because they genuinely enjoy staying active.

Speaker 2 (31:20):
You've always said plan for the option, not the obligation
to keep working exactly.

Speaker 4 (31:25):
That is what a good plan gives you options, flexibility, freedom,
And once you are ready to create that plan, the
next question becomes, who do I trust to help me
build it? Hey, Kelly Financial, clients come to our firm
for three reasons, values, trust, and knowledge.

Speaker 5 (31:46):
We are a fiduciary firm.

Speaker 4 (31:48):
We are independent, and our advisors put your interest first.
And I always tell people I trust our advisors with
my own money because I am not just the head
of the firm.

Speaker 5 (32:00):
I am a client too.

Speaker 2 (32:01):
And that is what your book is really about, real experiences,
real guidance, and real planning, not theory, real life.

Speaker 5 (32:09):
It is.

Speaker 4 (32:09):
And in part two of this series, we will talk
about the long game, long term care, taxes, retirement, income, independence,
and legacy. These are the conversations that help families plan
with confidence.

Speaker 1 (32:25):
So stay with us. We'll be right back with part two.

Speaker 4 (32:28):
You are listening to safe Money Strategies right here on WRKO.

Speaker 3 (32:36):
Safe Money Strategies brought to you by Kelly Financial Services.
Call eight eight eight eight hundred eighteen eighty one or
visit Kellyfinancial dot org.

Speaker 9 (32:47):
Ready to enjoy your golden years without worry and Kelly
Financial We know retirement planning can be overwhelming. With more
than twenty two years of experience, our friendly team of
advisors makes it easy and dress free. Trust us to
help you create a secure and enjoyable future.

Speaker 1 (33:04):
For a free.

Speaker 9 (33:05):
Initial retirement consultation, called eight eight eight eight hundred eighteen
eighty one or email Kelly at Kellyfinancial dot org. We're
Kelly Financial. Come retire with.

Speaker 3 (33:16):
Us safe money strategies with William Kelly and Kelly Kelly.
Call the team on eight eight eight eight hundred eighteen
eighty one.

Speaker 5 (33:26):
Take care, Welcome back.

Speaker 4 (33:33):
This is Kelly Kelly here with my son, William Kelly Junior,
in part two of our series. Today, we're going to
talk about one of the most important and often overlooked
parts of retirement planning, the long game. Because true retirement
planning is not just about dollars and cents. It's about

(33:54):
your health, your income, your legacy, and your independence.

Speaker 5 (34:00):
When you think about it that way.

Speaker 4 (34:01):
Planning becomes something much deeper than financial strategy.

Speaker 5 (34:06):
It becomes peace.

Speaker 2 (34:07):
Absolutely, mom And something I've learned from working with our
team is that the topics people avoid the most are
usually the ones that matter the most. Things like long
term care taxes, income, planning, and especially the conversation's Families
put off until later, but later always comes, and having
a plan before that moment makes all the difference.

Speaker 4 (34:29):
Long term care is a perfect example. Nearly seventy percent
of Americans will need some form of long term care
in their lifetime. That could mean home care, assisted living,
memory care, or nursing care. And if families are not prepared,
that responsibility emotionally and financially can fall on the people they.

Speaker 2 (34:53):
Love, and it can happen so quickly. A fall, a diagnosis,
a hospitalization. Suddenly a family is trying to figure out
what to do, what it costs, and how long they
can sustain.

Speaker 4 (35:04):
It exactly, and long term care today is expensive. Inflation
alone can double care costs in twenty to thirty years.
Planning is not about fears about compassion. It's about giving
your spouse, children, and family members a clear plan so
they are not overwhelmed when life changes. There are many

(35:27):
ways to prepare long term care. Insurance hybrid policies are
simply earmarking assets with intention. The key is starting the conversation.
While you are healthy and independent.

Speaker 2 (35:41):
You can always say hope for the best and plan
for the worst.

Speaker 4 (35:44):
That is right because planning is not about assuming bad
things will happen. It's about making sure your family is protected.

Speaker 5 (35:53):
If they do.

Speaker 2 (35:54):
Another topic people avoid is taxes. Everyone knows they have
to file taxes. Everyone understands the power of tax planning.
That is an important distinction. Tax filing is backward looking.
Tax planning is forward looking. Is not about paying less
than your fair share. It's about not paying more than

(36:16):
your fair share. With proper planning, families.

Speaker 4 (36:19):
Can manage their tax brackets, plan their withdrawals, and protect
more of their retirement income. And with rising national debt,
many experts believe taxes could be higher in the future.
So planning now, especially before required minimum distributions begin, can
create decades of long term savings.

Speaker 2 (36:42):
And that is why you always encourage people to think
about taxes year round, not just in April exactly.

Speaker 4 (36:49):
Your income plan and your tax plan should work together
like a pair of bookends, holding up the rest of
your retirement, and that.

Speaker 2 (36:58):
Brings us to one of the biggest piece of retirement planning. Income.
You say it often people retire on income, not on assets.

Speaker 5 (37:06):
It is true.

Speaker 4 (37:07):
Your dreams, your lifestyle, your goals, everything depends on reliable
sustainable income, not guess work, not hope income. The key
is balancing all the tools available social security, pensions, investments,
protected income options in a way that supports your actual spending,

(37:31):
and that spending should be based on real numbers, not estimates.
Your bank and credit card statements tell the real story
of your lifestyle. When your income plan is solid, your
retirement becomes more than an idea. It becomes a daily
reality you can enjoy without fear.

Speaker 2 (37:51):
One topic you speak about often is women and retirement,
and I think it's one of the most important chapters
in your book.

Speaker 4 (37:57):
It is women face a unique set of challenges in retirement.
They tend to live longer, they often spend years out
of the workforce, caring for children or aging parents, and statistically,
most women will spend at least part of retirement on
their own, either through widowhood or divorce. This is why

(38:19):
I tell women, be informed, be involved, and be ready.
Do not rely on someone else to manage your financial life.
You do not have to know everything, You just have
to be part of the conversation.

Speaker 2 (38:32):
I remember you saying that one of the most common
requests to hear from women is teach me how to
be a widow that always stays with me.

Speaker 4 (38:40):
It is a powerful and honest request, and the time
to have those conversations is long before someone needs them.
Planning is an act of love for yourself and for
the people who will one day need to carry your.

Speaker 2 (38:55):
Decisions forward, and that leads us to the final piece,
finding the right advisor.

Speaker 1 (39:01):
Not every firm is the right fit for every family.

Speaker 5 (39:04):
That is true.

Speaker 4 (39:05):
At Kelly Financial, our philosophy is built on three pillars, values, trust,
and knowledge. Values create connection, trust sustains relationship, and knowledge
help families grow in confidence. Our advisors do not just
manage money. They help guide decisions. They help families understand

(39:30):
their risks, their opportunities, and their long term goals, and
they do it with a fiduciary commitment to always put
clients first.

Speaker 5 (39:40):
You do not need an advisor to tell you what
to do.

Speaker 4 (39:43):
You need one who helps you understand why the decision matters.

Speaker 2 (39:48):
And that brings us back to your book, the stories,
the lessons and the hope behind it.

Speaker 4 (39:53):
The book is filled with real experiences longevity, taxes, income,
social security, long term care, women's planning, legacy, and more.

Speaker 5 (40:05):
It's a guide rooted.

Speaker 4 (40:06):
In faith, humor, and heart, and as we head into
Thanksgiving week, it's a reminder that planning is gratitude in action.
When you prepare for the future, you protect the people
you love.

Speaker 2 (40:20):
And this is the perfect time to read it.

Speaker 4 (40:22):
It is. If you would like a complimentary copy of
my book, Retire your Fear, Plan Your Future, just call
or email or office at Kelly at Kellifinancial dot org.

Speaker 2 (40:35):
We hope today's conversations have given you clarity and confidence
as you think about your own plan.

Speaker 4 (40:40):
From all of us at Kelly Financial, have a blessed
Thanksgiving and may you and your family plan for.

Speaker 5 (40:48):
A prosperous future.

Speaker 4 (40:50):
You are listening to Safe Money Strategies right here on WRKO.

Speaker 3 (40:58):
Safe Money Strategies to you by Kelly Financial Services. Call
eight eight eight eight hundred eighteen eighty one or visit
Kelly Financial dot org.

Speaker 1 (41:09):
Welcome back to Safe Money Strategies. I'm Mike d Said.

Speaker 8 (41:11):
Here with Greg Workman, and before the break we were
talking about how today's markets look a little stretched, high valuations,
narrow leadership, and big expectations riding on tech and AI spending.

Speaker 1 (41:23):
Right Mike, and as we said, it's not necessarily a
doom and gloom picture, but it's definitely a time to
be selective and strategic. So let's dig into the two
sides of this bull and bear case for where the
market could go next.

Speaker 8 (41:38):
Let's start with the optimistic side. The bulls argue that
while valuations are high, they can stay high for a
long time if earning's growth continues to deliver.

Speaker 1 (41:46):
Exactly, corporate balance sheets are generally strong, and technology continues
to drive productivity gains. If those capital investments and artificial
intelligence and automation payoff, that could lift earnings in a
way that supports today's prices or even justifies further upside.

Speaker 8 (42:04):
And you've got the possibility of lower interest rates too.
If the Federal Reserve continues cutting rates, that could reduce
borrowing costs and make equities more attractive compared to bonds.

Speaker 1 (42:15):
That's a great point. Historically, lower rates have supported higher valuations.
If inflation keeps trending down and the economy stays resilient,
investors might be willing to keep paying a premium for growth.
There's also the global angle.

Speaker 8 (42:30):
International capital still views US markets as the most stable, innovative,
and liquid in the world. That foreign demand helps valuations,
especially when global uncertainty rises elsewhere.

Speaker 1 (42:41):
So the bull case is, yes, the market's expensive, but
for good reason. The US economy remains relatively strong, innovation
is booming, and investors are betting that these trends, well,
they'll continue.

Speaker 8 (42:55):
Now let's flip it around. The bear case says, be
careful because this kind of optimism can go too far.

Speaker 1 (43:01):
Exactly when valuations are stretched. You don't need a recession
to have a pullback in the stock market. You just
need a disappointment. Maybe earnings growth slows, or interest rates
stay higher for longer than predicted, or AI spending turns
out to be less profitable than expected.

Speaker 8 (43:21):
Or geopolitical risk, elections, trade tensions, conflicts, any of those
can shake confidence and trigger volatility when markets are priced
for perfection.

Speaker 1 (43:31):
And remember that concentration risk we talked about earlier. If
one of the Magnificent seven has a bad quarter or
faces regulatory scrutiny, it could ripple across the entire index.

Speaker 8 (43:43):
That's the bare case in a nutshell, not that the
economy collapses, but that expectations.

Speaker 1 (43:48):
Are just too high.

Speaker 8 (43:50):
And when everyone's on one side of the boat, even
a small wave can cause a lot of movement.

Speaker 1 (43:55):
So where does that leave the average investor. For our listeners,
especially those nearing or in retirement, this is about balance.
You don't have to pick sides between bull or bear.
You can prepare for both. That's right.

Speaker 8 (44:10):
This is where safe money planning really comes into play.

Speaker 1 (44:13):
It's about having a.

Speaker 8 (44:13):
Portfolio they can participate in growth, but also hold.

Speaker 1 (44:17):
Up if things get shoppy. One of the things we
talk about with clients is identifying the money that they
can't afford to lose, the income sources that need to
be there no matter what the stock market does. Those
dollars should be positioned conservatively, focused on protection and steady yield.

Speaker 8 (44:36):
Meanwhile, for the portion that's meant to grow, you can
stay invested, just more selectively. That might mean diversifying beyond
the big tech names, or incorporating sectors that haven't run
as hut, like healthcare industrials or certain dividend payers.

Speaker 1 (44:49):
And for some clients will use tactical tools, things like
structured buffered ETFs or even actively managed strategies that can
adjust exp exposure as conditions change. The goal it's to
stay invested, but not be overexposed. From a risk standpoint.

Speaker 8 (45:08):
Greg one thing we see a lot when volatility picks
up is that investors get emotional. They see big headlines
or shop moves and feel pressure to do something right
away exactly.

Speaker 1 (45:18):
That's why having a written plan is so important. When
you've mapped out your income, your risk tolerance, and your goals,
you're less likely to make reactive decisions.

Speaker 8 (45:29):
And that's really the heart of safe money strategies. It's
about clarity, knowing what you own, why you own it,
and how it fits into your broader retirement plan.

Speaker 1 (45:37):
We had a client recently who was heavily invested in
growth stocks. They'd done well for the past few years,
but they were starting to lose sleep over the ups
and downs in the market. We rebounced their portfolio, added
some income focused positions, and built a clear withdrawal strategy.
The market didn't change overnight, but there's stress level sure did.

(46:01):
That's such a common theme.

Speaker 8 (46:03):
You can't control markets, but you can control how much
uncertainty you're exposed to.

Speaker 1 (46:09):
If you're listening today and wondering whether your portfolio might
be overheated or maybe too concentrated in certain sectors, now
is the perfect time to dive in and take a
closer look.

Speaker 8 (46:22):
That's why we put together a Safe Money Strategies Workbook.
It's a simple, practical tool that helps you evaluate your
risk exposure, identify potential gaps in your retirement income plan,
and see how your current investments align with your goals.

Speaker 1 (46:35):
You can request a free copy of the Safe Money
Strategies Workbook by calling our office. It's completely complementary, no cost,
no obligation, and.

Speaker 8 (46:45):
If you'd like, we'll even schedule a personal review with
our team to walk through your results and help you
understand your options in today's market environment.

Speaker 1 (46:52):
Whether you're feeling confident or feeling cautious, it's always smart
to check your footing, especially when markets are running hot.
So give us a call today, request your copy of
the Safe Money Strategies Workbook, and take that first step
toward greater peace of mind. With that, I'm Greg Workman
and I Mike you said.

Speaker 8 (47:11):
We'll be back next week for another edition of Safe
Money Strategies.

Speaker 10 (47:19):
Joining us now, as she always does at this time,
the co founder, CEO, president of Kelly Financial Services, and yes,
that is her.

Speaker 1 (47:32):
Charming name, Kelly. Kelly Kelly, how are.

Speaker 11 (47:39):
You, Good morning, Jeff? I am good for so many
retires stepping away from work doesn't mean stepping away from responsibility.
You may be helping a son or daughter through college,
or caring for an aging parent whose needs have grown
over time, and when that happens, you feel it financially

(48:00):
and emotionally. Maybe you're drawing from savings a little sooner,
or stretching your monthly income a little further just to
keep everyone supported. But that's when it really helps to
have something you can lean on, A simple, practical checklist
that keeps you focus on the essentials of protecting your
income while you care for the people you love. Our

(48:23):
Retirement income Planning Checklist offers ten key steps to help
you think through healthcare cost inflation and making sure your
money keeps working.

Speaker 5 (48:34):
For you.

Speaker 11 (48:34):
To request your free copy, give us a caller email
Kelly at Kellyfinancial dot org. Jeff, have a wonderful weekend.
My best to Grace and the kiddos.

Speaker 10 (48:44):
Thank you so much, Kelly, all the best to you
and everyone at Kelly Financial. Call now to get your
free copy of her guide eight eight eight eight hundred
eighteen eighty one eight eight eight eight hundred eighteen eighty one,
or if you prefer, you can email Kelly herself directly
Kelly at Kelly Financial dot org.

Speaker 5 (49:05):
Kelly at Kelly Financial dot org.

Speaker 1 (49:14):
Hi, everyone, this is William Kelly.

Speaker 2 (49:16):
If you've ever wished you'd learned about money sooner, That's
why I wrote Only the Good invest Young, a simple,
encouraging guide with real world steps anyone can follow. I
kept seeing the same thing people wishing someone had explained
the basics earlier. How to save, build good habits, avoid
costly mistakes, and create momentum even when you're starting small,

(49:39):
whether you're eighteen or eighty. This book is about confidence, clarity,
and taking action. With the holidays coming up, Only the
Good Investor Young makes a great Christmas gift for a child,
a grandchild, or anyone who needs that nudge.

Speaker 1 (49:52):
To start strong.

Speaker 2 (49:53):
For our listeners, we're sending out complimentary copies. Just call
eight eight eight eight hundred and twenty one or email
Kelly at Kellyfinancial dot org and we'll send you one
at no charge. You can also purchase a softcover on
Amazon or an ebook on Kendall. I'm William Kelly, and
I hope this book helps someone you love take their
first step.

Speaker 3 (50:14):
Safe money Strategies at eight eight hundred one eight eight.

Speaker 4 (50:19):
One Bill Kelly always had a way of taking us
back to the moments that shaped him, the places, the people,
and the grit that defined an entire generation. In this
week's story, he brings us to Autonomy Hill in Newport,
Rhode Island, where his grandmother kept a tiny apartment shining

(50:40):
like a museum, and where respect, hard work, and personal
responsibility were simply expected. Is a reminder that even the
humblest beginnings can build these strongest foundations.

Speaker 5 (50:53):
Here's Bill Kelly.

Speaker 12 (50:56):
I mentioned my family lived in housing projects before we
bought bailey Brook Farm. With the help of Grams, my
whole family moved from Providence to a housing project known
as Totomy Hill in Newport. It was a mix of
nationalities back then, but mostly Irish and Italian. We would
visit my grandmother Atonomy Hill. To me, she lived in
a museum. She kept the apartment immaculate and made it

(51:19):
wonderful to look at with all her knickknacks and beautiful curtains.
The yards were kept up and the premises were kept clean.
My grandmother was sixty five and the neighborhood bully was
named Bobby Brooks. If he came through her yard and
left a gum wrapper. My grandmother would yell at him.
Picture someone who looked like the Fawns, right, if the
Fawns got his character from someone, it was this guy,

(51:40):
Bobby Brooks.

Speaker 1 (51:42):
So here's a sixty.

Speaker 12 (51:43):
Five year old Italian lady in an open bedroom window,
pointing a finger and yelling at a hoodlum, Bobby Brooks,
if you don't pick that gum wrapper up, I'm coming
down there. And if I come down there, you're not
gonna like it. I'm going to call your mother before
I go down there, and I know what she's going
to tell me. She's going to tell me to do
whatever I need to do. So that was my grandmother,

(52:05):
and Bobby Brooks, the neighborhood hoodlum, would look up and say, okay,
missus Murphy, I'll get the wrapper. Sorry about that, I'm
out of here. He was the toughest kid I knew
back then. When you heard an adult yelling at you
from a window, you listened. But things have changed a
lot since then. We didn't know we were poor, and

(52:25):
we didn't know my grandmother was poor. We didn't think
of it as a project to us. She lived at
nineteen Cowie Street about twenty years ago. I was driving
through that neighborhood and they were tearing it apart again.
It's been redeveloped four different times in forty years. Unbelievable.
That's just what happens with public housing. I wondered if

(52:45):
nineteen Cowie Street was still there, so I went back.
The door was open and off its hinges. The whole
street was being redone. I walked into the apartment and
what a shock. It was tiny. The kitchen was ten
by ten, the living room was probably ten by fifteen,
and there was a set of stairs leading to the
top floor where there were two bedrooms. One was probably

(53:07):
ten by twelve and the other was probably twelve by twelve.
There also was a bathroom. A feeling of claustrophobia took hold.
Those stairs used to gleam. When you went to Grandma's house.
You dusted before you went to bed at night. When
you got up in the morning after breakfast, he cleaned
the stairs with pledge. That's what happened at Grandma's house.

(53:28):
The beds were made perfectly. Everything was neat and orderly,
all in public housing. My uncles lived at Totomy Hill too,
in the house next door to ours. The funny thing
is they would save some money and then they would
move out and buy a starter home. That's what they did.
As you know, Mom worked for the phone company and
Dad was a fireman. He also worked at a hardware store.

(53:50):
Mom sold real estate once in a while because she
had a knack for it. Then suddenly, and with the
help of Graham, they bought bailey Brook Farm and that
was the beginning of the next phase of our lives.
They were out of the projects. We didn't call them
that then, but would certainly call them that now. One
day we were living in Attomy Hill. The next day

(54:11):
we had a big farm with thousands of chickens, and
everyone was happy. My uncle's got work in hardware stores.
My uncle Tom started working at Raytheon and got put
through radio school. Just imagine that he began working at
Raytheon and all of a sudden found a great career.
Did we have an advantage because our skin color was white,
I don't know, but I'll tell you what advantage we

(54:32):
did have. If we didn't have a job, it didn't
go over well at the dinner table and my family,
at the ripe old age of nine, we were expected
to work. We could deliver a newspaper. We could caddy,
we could mow lawns, or we could shovel snow. My
older brother started to sell encyclopedias. At one point my

(54:52):
parents bought a set of course and they received a
Webster's dictionary with it. That dictionary was about a foot
tall and it had screws in the spine. The cover
was similar to leather and was very, very stiff. We
used to stand on it at the front window because
it allowed us to see cars a mile away coming
down the lane. We could see the lights bobbing up

(55:14):
and down because the road was rocky. The bobbing would
tell us how far away the car was, so we
could gauge when our folks were coming home. Once they
were spotted, we would have about two minutes to clean.
Sometimes we had to lock the back door to give
ourselves an extra minute. There was a path to improvement
for me, a path that went onward and upward. I'm

(55:37):
sure there's also a way out for others today. However,
I don't think the way out is by fundamentally transforming
our government into a quasi communist, bloated bureaucracy in which
we have to share the wealth with everyone. We weren't
told that anyone was going to share his or her
wealth with us. When we were growing up, we were

(55:57):
told we had to get a job. I don't recall
President Obama ever having a job. He never mentioned it.
He just kept going to different schools, funded in part
by Saudi Prince, various grants, and evermore loans that he
couldn't pay back until he was finally elected to the
Senate in Illinois. I could be wrong, but I seriously
believe that there was some sort of disconnect.

Speaker 3 (56:19):
There were called Kelly Financial Services eight eight eight eight
hundred eighteen eighty one.

Speaker 4 (56:29):
I'm Kelly Kelly from Kelly Financial. Whether you're in your sixties, seventies,
or eighties, financial advice is important when it comes to
preserving your nest egg. We have a free investor guide
called designing your Fiscal House to Weather the Elements, which
highlights the steps needed to build a balance portfolio. For
the guide, call eight eight eight eight hundred eighteen eighty

(56:52):
one or email Kelly at Kellyfinancial dot org.

Speaker 5 (56:56):
We're Kelly Financial. Come retire with us.

Speaker 3 (56:59):
Safe money Police Strategies with William Kelly.

Speaker 2 (57:02):
The preceding broadcast was paid for by Kelly Financial Services